Canada Pension Plan Investment Board Has $3.59 Million Position in First American Corporation (The) (FAF)

Canada Pension Plan Investment Board decreased its holdings in First American Corporation (The) (NYSE:FAF) by 24.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,800 shares of the insurance provider’s stock after selling 23,100 shares during the period. Canada Pension Plan Investment Board owned 0.06% of First American Corporation (The) worth $3,588,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Teacher Retirement System of Texas lifted its holdings in shares of First American Corporation (The) by 0.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,813 shares of the insurance provider’s stock valued at $394,000 after acquiring an additional 32 shares during the last quarter. World Asset Management Inc lifted its holdings in shares of First American Corporation (The) by 0.8% in the 2nd quarter. World Asset Management Inc now owns 7,480 shares of the insurance provider’s stock valued at $334,000 after acquiring an additional 61 shares during the last quarter. Creative Planning lifted its holdings in shares of First American Corporation (The) by 5.3% in the 2nd quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock valued at $102,000 after acquiring an additional 114 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of First American Corporation (The) by 0.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 47,714 shares of the insurance provider’s stock valued at $2,132,000 after acquiring an additional 134 shares during the last quarter. Finally, Forward Management LLC lifted its holdings in shares of First American Corporation (The) by 3.3% in the 2nd quarter. Forward Management LLC now owns 8,279 shares of the insurance provider’s stock valued at $370,000 after acquiring an additional 267 shares during the last quarter. 83.84% of the stock is owned by hedge funds and other institutional investors.

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First American Corporation (NYSE:FAF) opened at $54.33 on Thursday. The company has a market cap of $6,059.50, a P/E ratio of 15.53, a PEG ratio of 1.19 and a beta of 0.74. First American Corporation has a 1 year low of $35.28 and a 1 year high of $56.40.

First American Corporation (The) (NYSE:FAF) last issued its earnings results on Thursday, October 26th. The insurance provider reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.12. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. First American Corporation (The) had a net margin of 4.88% and a return on equity of 14.30%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. analysts predict that First American Corporation will post 3.54 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 8th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.80%. The ex-dividend date is Thursday, December 7th. First American Corporation (The)’s payout ratio is 60.08%.

In related news, CEO Dennis J. Gilmore sold 100,000 shares of First American Corporation (The) stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $54.97, for a total transaction of $5,497,000.00. Following the transaction, the chief executive officer now directly owns 611,141 shares of the company’s stock, valued at $33,594,420.77. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark Edward Seaton sold 7,000 shares of First American Corporation (The) stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $48.33, for a total transaction of $338,310.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,318 shares of company stock worth $6,787,310. 3.10% of the stock is currently owned by corporate insiders.

Several analysts have issued reports on the stock. Barclays PLC raised their price objective on shares of First American Corporation (The) from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Zacks Investment Research raised shares of First American Corporation (The) from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective for the company in a research note on Monday, July 31st.

About First American Corporation (The)

First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.

Institutional Ownership by Quarter for First American Corporation (The) (NYSE:FAF)

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